{"id":224,"date":"2023-05-10T10:08:11","date_gmt":"2023-05-10T10:08:11","guid":{"rendered":"https:\/\/companyformationmontenegro.com\/?p=224"},"modified":"2023-05-10T10:08:14","modified_gmt":"2023-05-10T10:08:14","slug":"start-a-financial-company-in-montenegro","status":"publish","type":"post","link":"https:\/\/companyformationmontenegro.com\/start-a-financial-company-in-montenegro\/","title":{"rendered":"Start a Financial Company in Montenegro"},"content":{"rendered":"\n<p>There are many\u00a0<strong><a href=\"https:\/\/www.companyformationmontenegro.com\/why-invest-in-montenegro\" target=\"_blank\" rel=\"noreferrer noopener\">prolific industries in Montenegro<\/a><\/strong>, among them being also the\u00a0<strong>financial<\/strong>\u00a0one.\u00a0<strong>Starting a financial company<\/strong>\u00a0implies respecting the legislation in the banking system, but also the Commercial Code which provides for the regulations related to incorporating a business in this country.<\/p>\n\n\n\n<p>There are several&nbsp;<strong>types of companies<\/strong>&nbsp;which can be established in the&nbsp;<strong>financial sector in Montenegro<\/strong>, provided that specific licenses are obtained. Below, our&nbsp;<strong><a href=\"https:\/\/www.companyformationmontenegro.com\/about-us\" target=\"_blank\" rel=\"noreferrer noopener\">company formation agents in Montenegro<\/a><\/strong>&nbsp;have prepared a guide on how to&nbsp;<strong>start a financial business<\/strong>.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/companyformationmontenegro.com\/start-a-financial-company-in-montenegro\/#legislation-in-the-financial-industry-in-montenegro\" title=\"Legislation in the financial industry in Montenegro\">Legislation in the financial industry in Montenegro<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/companyformationmontenegro.com\/start-a-financial-company-in-montenegro\/#how-to-register-a-financial-company-in-montenegro\" title=\"How to register a financial company in Montenegro\">How to register a financial company in Montenegro<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"legislation-in-the-financial-industry-in-montenegro\"><\/span><strong>Legislation in the financial industry in Montenegro<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The&nbsp;<a href=\"https:\/\/www.cb-cg.org\/eng\/index.php\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Central Bank of Montenegro<\/strong><\/a>&nbsp;is the main institution in charge of issuing the licenses needed to&nbsp;<strong>operate as a financial institution<\/strong>&nbsp;and with the supervision of the activities of all&nbsp;<strong>financial companies<\/strong>&nbsp;in the country.<\/p>\n\n\n\n<p>Among the&nbsp;<strong><a href=\"https:\/\/www.companyformationmontenegro.com\/company-act-montenegro\" target=\"_blank\" rel=\"noreferrer noopener\">laws<\/a><\/strong>&nbsp;to be respected when&nbsp;<strong>opening a financial company in Montenegro<\/strong>&nbsp;are:<\/p>\n\n\n\n<ul>\n<li>&#8211;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the Banking Act and the Central Bank of Montenegro Act which cover the aspects of opening banks in Montenegro;<\/li>\n\n\n\n<li>&#8211;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the Payment System Act which provides for the creation of payment service providers;<\/li>\n\n\n\n<li>&#8211;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the Consumer Credit Act which provides for the conditions to be respected by financial companies offering loans;<\/li>\n\n\n\n<li>&#8211;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the Law on Financial Leasing, Factoring, Purchase of Receivables, Micro-Lending and Credit-Guarantee Operations.<\/li>\n<\/ul>\n\n\n\n<p>There are also other regulations which must be respected by&nbsp;<strong><a href=\"https:\/\/www.companyformationmontenegro.com\/types-of-companies-in-montenegro\" target=\"_blank\" rel=\"noreferrer noopener\">financial companies in Montenegro<\/a><\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"how-to-register-a-financial-company-in-montenegro\"><\/span><strong>How to register a financial company in Montenegro<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In order to&nbsp;<strong>open a Montenegrin financial business<\/strong>, a local or foreign investor must first register a company with the&nbsp;<strong><a href=\"https:\/\/www.companyformationmontenegro.com\/central-registry-of-montenegro\" target=\"_blank\" rel=\"noreferrer noopener\">Trade Register<\/a><\/strong>. Given the fact that such company usually requires a larger share capital a limited liability company should be considered as a business form.<\/p>\n\n\n\n<p>When&nbsp;<strong>opening a banking institution in Montenegro<\/strong>, the minimum share capital required is 5 million euros. It is also necessary for a banking license to be obtained with the Central Bank. It should be noted that foreign investors have no restrictions when it comes to&nbsp;<strong>opening financial companies in Montenegro<\/strong>.<\/p>\n\n\n\n<p>Foreign financial institutions are also allowed to open subsidiaries and&nbsp;<strong><a href=\"https:\/\/www.companyformationmontenegro.com\/establish-a-branch-in-montenegro\" target=\"_blank\" rel=\"noreferrer noopener\">branch offices in Montenegro<\/a><\/strong>.<\/p>\n\n\n\n<p>For assistance in&nbsp;<strong>opening a financial company<\/strong>, please&nbsp;<strong><a href=\"https:\/\/www.companyformationmontenegro.com\/contact\" target=\"_blank\" rel=\"noreferrer noopener\">contact<\/a>&nbsp;our company registration specialists in Montenegro<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There are many\u00a0prolific industries in Montenegro, among them being also the\u00a0financial\u00a0one.\u00a0Starting a financial company\u00a0implies respecting the legislation in the banking system, but also the Commercial Code which provides for the regulations related to incorporating a business in this country. There are several&nbsp;types of companies&nbsp;which can be established in the&nbsp;financial sector in Montenegro, provided that specific [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":118,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[11,117,119,118],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Start a Financial Company in Montenegro<\/title>\n<meta name=\"description\" content=\"Find here how to register a financial company in Montenegro. 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